PG&E knew Proposition 16 was losing

June 14, 2010

Reports indicate that Pacific Gas & Electric (PG&E) sunk nearly $50 million trying to get Proposition 16 passed in California’s recent June 8 primary–even though they knew it was a losing cause. [San Francisco Chronicle

Campaign insiders are now saying that the PG&E-sponsored ballot measure polled favorably initially by a margin of 48 percent to 32 percent.

However, in March, state Attorney General Jerry Brown issued the official ballot statement, describing Proposition 16 as “imposing” a two-thirds vote requirement for cities wishing to launch their own power systems.

2 Comments

I can just see the stockholders meeting, “Hey guys, lets fund this proposition, we have a great slogan! If it works we win the Monopoly game, and even if it doesn’t work, we can raise the rates to cover it. All in favor say aye.”